News

Schemes with equity holdings in oil giant BP should vote down a pay deal lined up for departing executive, Pensions & Investment Research Consultants urges.

The Insurance Society of Edinburgh has elected Paul Faulkner to serve as its president.

IRELAND/UK - IFG Group, which bought UK pension provider James Hay last year, wants to acquire other personal pension managers in Britain under pressure to boost capital, chief executive officer Mark Bourke said.

GLOBAL - Investor confidence rose 6.5 points in March, from February's revised reading of 91.8 to 98.3, State Street Global Markets said.

GLOBAL - HSBC Global Asset Management has appointed Vikramaaditya to the new position of head of business strategy.

BT has paid £505m cash into its pension scheme nine months earlier than scheduled under its deficit reduction plan.

UK - Former Gartmore star Guillaume Rambourg is looking for another role in fund management following the FSA's decision not to take any formal disciplinary action against him.

US - The funded status of the 100 largest corporate defined benefit pension plans declined by $6bn during February 2011, research by Milliman shows.

Regulatory constraints on pension funds are stifling the availability of long-term capital in the global economy, the World Economic Forum says.

UK - Schemes should steer clear of UK government bonds if they want to maintain the real value of their capital and secure a positive real income, AXA Investment Managers warns.